The Bellingham Business Journal
Washington state is tops among neighboring states and number five overall in the “Business Tax Index 2010: Best to Worst State Tax Systems for Entrepreneurship and Small Business,” published April 28 by the nonprofit Small Business & Entrepreneurship Council. Oregon is in the bottom 10 at number 43, and Idaho ranks 39th.
The SBE Council’s “Business Tax Index 2010” pulls together 16 different tax measures, and combines those into one tax score that allows the 50 states and District of Columbia to be compared. Among the taxes included are income, capital gains, property, death/inheritance, unemployment, and various consumption-based taxes, including state gas and diesel levies.
According to the report, the 10 best state tax systems, in descending order, are: South Dakota, Texas, Nevada, Wyoming, Washington, Florida, Alabama, Alaska, Ohio, and Colorado.
The report stated that the 10 worst state tax systems, in descending order, are: Massachusetts, Oregon, Vermont, Iowa, Maine, New York, California, Minnesota, New Jersey, and District of Columbia.
“The 2010 Business Tax Index again underscores that Washington is a great place to do business,” said Rogers Weed, Director of the Washington State Department of Commerce. “With no income tax, a portfolio of tax incentives, low energy prices, a coveted Asia-Pacific gateway location, and a quality of life second to none, Washington is a rich environment for entrepreneurs and small business.”
In 2009, U.S. News and World Report named Washington the number one state for starting a business.
The SBE Council is a nonpartisan, nonprofit small business advocacy organization that works to protect small business and promote entrepreneurship. Read the full “Business Tax Index 2010” at www.commerce.wa.gov.